Even with soaring sales, Huawei is ‘preparing for the worst’

Even with soaring sales, Huawei is ‘preparing for the worst’

The Chinese telecommunications giant Huawei is ‘preparing for the worst but hoping for the best’ in the run up to 19 August, the expiration date for the temporary reprieve on the US trade ban of Huawei equipment, according to the company’s Vice-President for Europe, Abraham Liu. Meanwhile, the company has managed to fend off risks to its profit margins in the midst of a continued US campaign against the company. Revenues are up 23% for the first half of 2019 to 401 billion CNY (€52bn), with a net profit margin…

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Trade unionist: Von der Leyen has to deliver on Social Europe ‘if she wants to gain trust’

Trade unionist: Von der Leyen has to deliver on Social Europe ‘if she wants to gain trust’

The Workers Group of the Economic and Social Committee welcomes European Commission president-elect Ursula Von der Leyen’s openings on social policy, but if she wants to be trusted, she needs to prove herself, its president Oliver Röpke told EURACTIV. “In the field of social policy, there are some ambitious proposals by von der Leyen but if she wants to gain trust among citizens and workers in Europe, she has to deliver,” Röpke pointed out. He insisted: “We should see it in the first month.” Röpke urged the president-elect to move…

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Trump says Washington could tax French wine in retaliation for digital tax

Trump says Washington could tax French wine in retaliation for digital tax

US President Donald Trump threatened to tax French wines on Friday (27 July) in retaliation for France’s recent proposal to levy a tax aimed at big US technology companies. Trump had told French President Emmanuel Macron last week that he was concerned about the proposed digital services tax. “If anybody taxes them, it should be their home Country, the USA. We will announce a substantial reciprocal action on Macron’s foolishness shortly,” Trump tweeted on Friday. “I’ve always said American wine is better than French wine!” Later in the Oval Office,…

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ECB to put non-conventional measures on table to regain growth

ECB to put non-conventional measures on table to regain growth

The ECB’s key interest rate remains at zero and is expected to remain at that level at least until summer 2020. However, ECB president Mario Draghi is suggesting that a decisive fiscal policy is far more important for the eurozone, especially for Germany and Italy. EURACTIV Germany reports. “We expect the key interest rate to remain at current or lower levels at least until mid-2020,” Draghi said after Thursday’s Governing Council’s meeting on monetary policy (25 July). Draghi announced that the rate would, in any case, be kept at these…

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Commission claims that Europe needs to fight money laundering

Commission claims that Europe needs to fight money laundering

The EU needs more competences to fight money laundry effectively, Vice-President for the Euro Valdis Dombrovskis and Commissioner for Justice Věra Jourová told reporters on Wednesday (24 July), during the presentation of a series of reports on financial crimes. “We have a problem in Europe. Europol estimates than around 1% of Europe’s wealth is involved in suspect financial activity. That’s the equivalent of the annual EU budget,” Commissioner Jourová said. “Our analysis suggested that we should pursue a path towards more competences at EU level and a single rule-book based…

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Is EU-Mercosur deal hijacked by premature criticism?

Is EU-Mercosur deal hijacked by premature criticism?

Almost a month ago, the European Commission signed a free trade agreement with the South American trade alliance Mercosur. Since then, the agreement has provoked criticism from farmers, environmentalists, national politicians and MEPs. EURACTIV Germany reports. No punches were pulled in the first debate about the Mercosur agreement between MEPs of the Agriculture Committee and Agriculture Commissioner Phil Hogan. “It is worse than we feared,” said German Green MEP Martin Häusling. “This is an agreement that is dangerous for our farmers,” said French MEP Gilles Breton of the right-wing nationalist…

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Five new measures to support EU economies: What you should know

Five new measures to support EU economies: What you should know

The European Commission will play a key role in deciding what reforms and investments are supported by a new financial instrument expected to be in place in 2021, whose amount is yet to be decided by the member states as part of the negotiations on the EU’s long-term budget (MFF). The Commission unveiled on Wednesday (24 July) additional details of the new budgetary instrument for convergence and competitiveness. The new plan is far from the eurozone budget that French President Emmanuel Macron proposed two years ago. But Paris is still…

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US-EU trade negotiations are deadlocked, Malmström says

US-EU trade negotiations are deadlocked, Malmström says

Almost a year after the joint US-EU statement, “there is a stalemate” in trade negotiations, Commissioner Cecilia Malmström conceded on Tuesday (23 July) speaking before the European Parliament. The talks on a trade agreement concerning the elimination of tariffs on industrial goods between Brussels and Washington have not started yet, Malmström told the members of the International Trade Committee. The US is not ready to negotiate unless agriculture products are included in the agreement. But agriculture “is a red line for us,” EU’s trade chief said. “We don’t have a…

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Washington raises on auto tariffs will cause redoubles threat to retaliate from EU

Washington raises on auto tariffs will cause redoubles threat to retaliate from EU

The European Union is keen to work with Washington to reform the World Trade Organization and cooperate on common challenges to global trade, but will retaliate if Washington makes good on its threat to raise car tariffs, a top EU official said on Monday (22 July). Sabine Weyand, the European Commission’s director general of trade and former deputy Brexit negotiatior, struck a conciliatory but firm tone in remarks during her first official visit to Washington since taking on her new role a month ago. The longtime EU diplomat underscored the…

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French opposition unites against CETA

French opposition unites against CETA

The French parliament is supposed to ratify the Canada-EU free trade agreement (CETA) on Tuesday (23 July), but the pending ratification is generating a great deal of opposition in the country. EURACTIV France reports. On Tuesday morning (23 July), the young climate activist Greta Thunberg is expected at the French National Assembly. Thunberg will be enthusiastically welcomed by the biggest group of the chamber, Macron’s La République En Marche (LREM). In the afternoon, the same MPs are expected to vote on the ratification of the Canada-EU free trade agreement, which…

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